By providing comprehensive legal advice to the Elevator Ventures fund, the law firm HAVEL & PARTNERS ensured the entry of this Austrian investor into the Czech company operating Twisto payment services.

Elevator Ventures Beteligungs, a venture capital fund of Vienna-based Raiffeisen Bank International (RBI), has acquired a minority stake in Twisto payments a.s. M&A advice on this transaction was provided by the firm’s partner Jan Koval, senior associate Tomáš Navrátil and associate Josef Bouchal. The regulatory aspects of the transaction were supervised by associate Martin Stančík and the deal also required professional advice on intellectual property and information technology law, which was provided by associate Tomáš Chmelka.

Twisto has been popularizing deferred payments in the Czech Republic for over seven years, and more than 1.6 million customers have used its services. “We were amazed at how easy the Twisto solution is for customers to manage their daily payments and finances. Its strong traction in Central Europe proves that it serves the real demand of customers in this region. We look forward to supporting Twisto in its ambition to bring its solutions to more markets in continental Europe,” said Maximilian Schausberger, CEO of Elevator Ventures, about the transaction.

At the same time, another international investor entered into Twisto, the Australian company ZIP, which is one of the world leaders in retail digitalization, specifically in the area of finance and payments. In 2018, the service successfully entered the Polish market. Twisto now wants to use the investment to innovate deferred payments throughout the entire Central European region.